This is where I would buy in Brisbane if I had $500k
Brisbane offers a variety of affordable properties within 15 km of the CBD, making it an attractive option for potential buyers. This is where I would buy in Brisbane if I had $500k, according to Adam Panesi, a seasoned property investor. Brisbane is projected to be the fastest-growing capital city in Australia, presenting significant opportunities for investors.
Why Morningside?
Morningside is a suburb located just 5 km east of Brisbane’s CBD. It has shown substantial growth potential and offers properties with rental returns greater than 5%. One example is a unit recently sold for $485,000. The top-floor apartment, in a small complex, promises low maintenance costs and minimal body corporate fees. Rental income is projected to be around $550 to $600 per week. Such units, especially those in newer buildings, are expected to perform well in the short to medium term.
I go into detail in my youtube video. CLICK HERE TO VIEW.
Market Analysis
The market in Morningside is tight, with low stock levels and high demand. Properties are selling within 10 days of listing, significantly faster than the average 60 to 90 days for a balanced market. Vacancy rates for rental properties are also low, at just 1.24%, suggesting strong rental demand and potential for rental income growth.
Alternative Suburb: Everton Park
- Location: 9 km north of Brisbane’s CBD
- Property Example: Two-bedroom townhouse recently sold for $465,000
- Condition: Slightly dated interior
- Potential: Minor renovations can increase value and rental income
- Market Growth:
- Experienced solid growth in both unit and house markets
- Further potential expected as the housing market continues to rise
- Investment Appeal:
- Promising market trends and growth prospects
- This is where I would buy in Brisbane if I had $500k
Everton Park Property Insights
- Estimated Rental Income: $550 per week
- Investment Potential:
- Renovations can enhance value
- Low vacancy rates
- Increasing property values
Conclusion
Brisbane’s property market offers affordable investment opportunities with significant growth potential. Morningside and Everton Park are prime examples of suburbs where investments under $500,000 can yield substantial returns. This is where I would buy in Brisbane if I had $500k because of the promising growth, low vacancy rates, and high rental yields. Whether opting for newer units or older properties with potential for renovation, Brisbane’s suburbs present lucrative investment opportunities.