In the current market, it's easy to feel priced out of Melbourne and Sydney. Fortunately for investors, there's another growing city with lower barriers to entry – Brisbane. CoreLogic figures show that the median dwelling value in the Queensland capital is nearly half that of Sydney.
If you're new to the market, you shouldn't go in without a plan to invest. Here's how to formulate yours.
An overview of Brisbane's investment hotspots
First things first, you need to know where all of Brisbane's investment hotspots are so you make a smart investment. PRD Nationwide Research's Property Affordability 2016 Hotspot Report shows that Brisbane properties offer quite a bit of value. Areas around the CBD are currently Brisbane's most affordable spots, specifically Runcorn, Keperra and Wynnum West – these are suburbs that are at least 19 kilometres from the city centre.
Broken down by value, you find the following median figures:
- Runcorn – $519,000
- Keperra – $465,500
- Wynnum West – $490,000
Planning and selecting your investment
Now that we've identified the neighbourhoods that are ideal to invest in, which do you think you'll put your money in? If you've found a neighbourhood you're interested in you have to move quickly. This means you'll want to know where you stand financially before you enter a deal and be prepared to stick to your offer.
You'll want to give a realistic offer, otherwise you risk annoying the seller.
You'll want to give a realistic offer, otherwise you risk annoying the seller and losing the property entirely. That said, you're likely going to need some help to make the deal.
Don't enter the market without sound advice
It takes a particular set of skills to interpret what is going on in the market, and an even more particular set of skills to make accurate and financially savvy decisions. Not everyone can just pick up a newspaper and become a property investing expert – you need someone who has the education and experience.
If you want to ensure that you are making a sound investment, entrust in the help of the expert team here at REIN Group. We've been assisting Australians of all investment experience levels make good financial decisions to help them increase their property portfolios. Contact us today for help investing in Brisbane today.