We’re going to look at SouthEast Queensland, specifically, into Brisbane. In today’s show Shannon Davis from Metropole Property Strategists in Brisbane reveals the areas for best buys under $500,000 in Brisbane.
Kevin: A regular feature in the show and – I know – one that’s very popular is where we look at different suburbs around Australia that are moving or where you can get the best buys. We’re going to look at SouthEast Queensland, specifically, into Brisbane. Where are the best buys under $500,000?
Joining us is Shannon Davis from Metropole Properties in Brisbane. Okay, our shopping list, Shannon, what can you recommend we look at buying under $500,000 in Brisbane?
Shannon: Kevin, the first one I’d say is just a New Farm apartment. I think if you can get a New Farm, say, a special one bedder, or you might sneak a two bedder still, there’s a really high owner-occupier demand. The market share always has more people wanting to buy than sell, and for people moving interstate, New Farm is always one at the top of their lists as a suburb to move into. It matches their type of living [0:47 inaudible].
For that reason, our investors have enjoyed great capital growth in those areas, and it’s still amazing to see its run this year, as well.
Kevin: What sort of profile are we looking at in that area for a tenant?
Shannon: You have young professionals, some empty-nesters that don’t want to move away, and you have lots of people in shares. They’re either walking to the CBD or driving and perhaps catching a ferry. But more importantly, it has everything that they want in recreation, such as green space, restaurants, pubs, and even clubs not far, as well.
Kevin: Okay, New Farm apartments. Where’s another area in Brisbane for under $500,000?
Shannon: I would move a little bit further out. If we wanted to get a house, a suburb such as Aspley, you can get something perhaps with renovation potential and a slightly larger block – 607. There’s still really great capital growth in that suburb. It’s well located to the airport, the freeway, and good schools, as well.
Kevin: Anything in townhouses?
Shannon: Townhouses: we have a really good track on it right now. They’re capturing people upsizing and capturing people downsizing. You can get a three-bedroom, two-bathroom, one-car park. A suburb like Coorparoo offers great value, has the upgrade from the Eastern Busway and the old Myer Center there. Really popular, again, with the demographics without kids. You have a strong lineup of tenants.
Kevin: Anything a little bit closer in, Shannon?
Shannon: Likewise, on the north side, Wooloowin is a suburb with plenty of upside. It’s a train station suburb. It halves the distance between the airport and the CBD, and that’s really popular. It has a good school catchment and some excellent green spaces around the Melrose vicinity in Kalinga Park there.
Kevin: Okay, a New Farm apartment, a Wooloowin townhouse, also a Coorparoo townhouse, and an Aspley house – good buying under $500,000 in Brisbane. Our man on the ground there has been Shannon Davis from Metropole Properties.
Thanks, Shannon. Thanks for your time.
Shannon: No worries, Kevin. Any time.