{"id":7615,"date":"2016-04-15T01:00:37","date_gmt":"2016-04-14T15:00:37","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=7615"},"modified":"2016-04-15T01:00:37","modified_gmt":"2016-04-14T15:00:37","slug":"affordability-when-it-comes-to-property-is-one-of-the-most-searched-terms","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/affordability-when-it-comes-to-property-is-one-of-the-most-searched-terms\/","title":{"rendered":"Affordability is one of the most searched terms"},"content":{"rendered":"

Affordability when it comes to property is one of the most searched terms.\u00a0 So we have challenged Brisbane expert Shannon Davis<\/strong> to identify the most affordable suburbs in that part of Australia.
\nTranscript –\u00a0<\/b>
\nKevin:\u00a0 <\/b>It\u2019s always an interesting conversation when we look at the most affordable suburbs or areas wherever you live \u2013 all around Australia, it does vary. That\u2019s one of the most common questions that are asked, because affordability is such a key issue nowadays. Joining me to have a look at this, Shannon Davis from Metropole Property Strategists in Brisbane.
\nNo doubt this is a question you\u2019re asked from time to time, too, but I want to take this in a different direction, Shannon. I know you\u2019re always looking at investment stock, and I want you to overlay that on what you believe homebuyers or homeowners may want when they\u2019re looking for an affordable suburb. I know it\u2019s a bit of a challenge for your. Good morning and welcome to the show.<\/b>
\nShannon:\u00a0 <\/b>Good morning, Kevin. Thanks for having me.<\/b>
\nKevin:\u00a0 <\/b>Let\u2019s have a look at what you think are the most affordable, and for the sake of this exercise, if we can concentrate around that $400,000 mark, because I think that does represent great value and there are still a lot of areas around South East Queensland where you can achieve that sort of a property at that price, aren\u2019t there?<\/b>
\nShannon:\u00a0 <\/b>Yes, definitely. I would caution first-home owners not to overstretch themselves but also to try and buy the best piece of dirt they can, because some areas are affordable for long-term reasons, and it\u2019s going to be cheap in and cheap out. It\u2019s a dual concern: you want the best piece of dirt you can without overstretching yourself on a mortgage.<\/b>
\nKevin:\u00a0 <\/b>Okay, so what makes a good property? What are the indicators you look for? Is it things like employment?<\/b>
\nShannon:\u00a0 <\/b>Yes, definitely. Capital growth is about population growth, wage growth, and job growth. Those areas that have lots of employment hubs there are going to be really in demand for homeowners, because they don\u2019t want a longer commute than about half an hour is what research shows.<\/b>
\nKevin:\u00a0 <\/b>Okay, let\u2019s have a look at a few suburbs, because we asked you to have a look around and give us your opinion. Let\u2019s have a look at a few Brisbane suburbs that you\u2019d choose. What would be on your list?<\/b>
\nShannon:\u00a0 <\/b>I\u2019ve tried to stick close wherever possible, just because there\u2019s more scarcity with the land, and I don\u2019t want an abundance of land out there, because those suburbs take a little while to settle, there\u2019s a lot more infilling to happen. I picked Tingalpa, there we can still buy under that $500,000 mark, and also Fairfield. There are some streets in Fairfield you want to watch out f or for flooding reasons, though, but apart from that, it\u2019s pretty close to the CBD and shows good value.
\nTwo favorites of mine are for schooling, getting closer to that 15k ring, at Ferny Grove and Ferny Hills. They have some good school institutions out there, which is popular with owner-occupiers, and also a train station suburb.
\nThen Chermside, as well, for houses and townhouses \u2013 not apartments right now; I think there\u2019s going to be a lot of oversupply there for now. Chermside will go on to be as Parramatta is to Sydney. When people can\u2019t afford the inner and middle rings anymore, it\u2019ll be those secondary hub suburbs \u2013 like your Chermsides, your Indooroopillies, your Carindales \u2013 that are in demand.<\/b>
\nKevin:\u00a0 <\/b>Okay. Let\u2019s have a look at some of the cheaper suburbs, or if we can pull down under a median price of $400,000 \u2013 areas like, say, Rockley and Gailes. How do you feel about Rockley?<\/b>
\nShannon:\u00a0 <\/b>Rockley, apart from the CBD and the airport, is the biggest employer in Brisbane, so that has to do with jobs, and jobs is what people need to live around, so definitely a good pick.<\/b>
\nKevin:\u00a0 <\/b>I notice in that area, too, just having a quick look at the Internet now, there are ten listings under $400,000. With a median of $390,000 and a median rent of $350, it doesn\u2019t offer a brilliant return, but it\u2019s certainly acceptable around 4.6%<\/b>
\nShannon:\u00a0 <\/b>Yes, another one of those suburbs we\u2019ve got to watch out for some slight risk, as well.<\/b>
\nKevin:\u00a0 <\/b>Yes. What about Gailes? I mentioned that as another suburb that we were looking at. A median rent of $290 in there and a median house price of $260,000, offering about a 6.2% return. How would you feel about Gailes?<\/b>
\nShannon:\u00a0 <\/b>Yes, definitely a good value. High yielding, which sometimes can be lower growth, but has good access and infrastructure existing already. Gailes would be a good pick if that\u2019s what you\u2019re looking for.<\/b>
\nKevin:\u00a0 <\/b>Let\u2019s go a little further out to, say, Bundamba, and I notice currently the median price in Bundamba is $290,000. We have about 41 listings on the market, and so far this year, 46 sales. The turnover is reasonably average, but the return there at 5.5% is not too bad. Median rent of $300 a week. How do you feel about that area?<\/b>
\nShannon:\u00a0 <\/b>Yes, it\u2019s fast growing and Ipswich City Council is very conducive to growth, so it\u2019s an area with a bit of upside.<\/b>
\nKevin:\u00a0 <\/b>Yes. Eagleby: once again a median price of $277,000 and days on market on there is 90 days \u2013 stretching out a little bit, but still a reasonable return at around 6% with a median rent of $320 a week.<\/b>
\nShannon:\u00a0 <\/b>Yes, a lot of improvement to the Eagleby area recently and new development that\u2019s come up. Good access to highways and everything there. I think investors could do worse. It\u2019s switching over to the Logan council there, but yes, very well priced.<\/b>
\nKevin:\u00a0 <\/b>Thank you very much for your insight. My guest has been Shannon Davis from Metropole Property Strategists, and a quick look there at Shannon\u2019s picks: Tingalpa, Fairfield, Ferny Grove, Ferny Hills, and Chermside, and we also talked about Rockley, Gailes, Bundamba, and Eagleby.
\nMate, thank you so much for your time. We look forward to catching up again soon.<\/b>
\nShannon:\u00a0 <\/b>Anytime, Kevin.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

Affordability when it comes to property is one of the most searched terms.\u00a0 So we have challenged Brisbane expert Shannon Davis to identify the most affordable suburbs in that part of Australia. Transcript –\u00a0 Kevin:\u00a0 It\u2019s always an interesting conversation when we look at the…<\/p>\n","protected":false},"author":176692471,"featured_media":7616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32,10,11,13,22,27],"tags":[101],"class_list":["post-7615","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-property-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-research-topic","category-trends-topic","tag-podcast"],"yoast_head":"\nAffordability is one of the most searched terms - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/affordability-when-it-comes-to-property-is-one-of-the-most-searched-terms\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Affordability is one of the most searched terms - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"Affordability when it comes to property is one of the most searched terms.\u00a0 So we have challenged Brisbane expert Shannon Davis to identify the most affordable suburbs in that part of Australia. 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