A Case for Property Investment in Brisbane
Here is a case for property investment in Brisbane after a person, looking at buying a home unit, off the plan, at Surfers Paradise, recently asked my opinion
The starting prices at this development were 1 bedroom unit with no car parking at $450,000, 2 bedroom with one car park at $750,000 or 3 bedroom with 2 car park start at $2,190,000. He was considering a 1 bedroom with one car park at $660,000.
Firstly I would like to state an essential rule for all investors.
When you are getting into or out of a market, you are better off being one year too early than one week too late.
How does this apply to the Gold Coast and Surfers Paradise in particular?
On the positive side, the Gold Coast is Australia’s fastest growing large City, it is the sixth largest City in Australia and South East QLD is the fastest growing region in Australia.
My problem with the Gold Coast is that it is too volatile and vulnerable to world events that can affect its main industry, tourism. My clients do not buy and sell but buy and accumulate in solid low risk growth areas.
The development that this person was considering is anticipated being completed by mid-2018.
This is a perfect example of what I am saying.
The big driver of property prices on the Gold Coast, at the moment, is the hosting of the Commonwealth Games from 4-15 April 2018. Between now and shortly before the Games, the property market will be positive, but this time next year when the Games are over and all the visitors, competitors, media etc. have left, the market will fall.
If this building is on schedule it will be completed about two months after the Games. I would also suggest that in July 2018 (if it is completed), that he stand outside the building at 7pm and see how many lights are on in the units.
READ MORE ARTICLES LIKE THIS?
Visit our Property Investment and Real Estate Category on our blog.
Download your Free Residential Investment Checklist.
So, what is a better alternative?
It depends on the investor. My clients aim to retire owning several properties and debt free. We do not buy and sell but buy and accumulate in solid growth areas like North Harbour, Brisbane.
Which would you prefer; a five bedroom home with a double garage for under $550,000 or a one bedroom with single car park for $660,000?
I rest my case for property investment in Brisbane.
Until next week …
Steve Taylor
If you are interested in buying property to start your Residential Property Portfolio, please contact our office to schedule a free, no-obligation consultation and find out if our service is suitable to your needs.
If you prefer to listen here is my radio interview on Emerald 4HI:
At the helm of Steve Taylor & Partners, Steve Taylor has been delivering expert advice and product knowledge to clients for over 30 years. Steve Taylor & Partners provide individuals, couples and families with the right strategies to create wealth and change their lives with solid bricks and mortar.
DISCLAIMER
Steve Taylor & Partners blog is opinion and not advice. Readers should seek their own professional advice on the above subject. The figures stated in this article were accurate at the time of publication. For up to date figures, please contact our office.
Fill and Submit this form for your Free Residential Checklist.
