The latest report from Your Investment Property highlights five suburbs worth watching. With interest rates staying low for a while, they’re asking where in Brisbane should you buy? They contacted us to tell us that Carina was named in their report as a top 5 Brisbane suburb to watch.
“Homebuyers and property investors alike are realising Brisbane’s potential and property prices have slowly been creeping up over the last 12 to 18 months,” said Your Investment Property managing editor Nila Sweeney.
“Brisbane is more affordable than Sydney and Melbourne and many suburbs have recorded solid growth in 2014 and look to do the same this year. The five suburbs we have highlighted are a good place to start for buyers looking for a strong return,” Nila says.
The suburbs featured, the group said, are both “affordable” and boast a range of “growth triggers” such as a convenient location close to the CBD, strong infrastructure and transport links. The full details are in their latest issue of Your Investment Property.
I asked some local real estate agents their views on Carina as a “suburb to watch”.
Julie Harris of Belle Property Carina says that, as with any investment, Carina’s location is critical, as investors seek those properties within the “golden 10km radius of the CBD” with good road links and public transport.
“Secondly, amenities are high on the wanted list as tenants need to rent within close proximity of schools, shops, recreational facilities etc,” Julie says.
“Again Carina, can offer all of those things with a fantastic choice of schools, a large array of both local shopping precincts and Westfield Carindale, as well as parklands, Clem Jones Centre, Leagues Club etc.”
“Right now, Carina is demonstrating a great rental yield of more than 5% as well as good capital growth, that ideal combination that most investors seek is a combination of both. As the median price to purchase is still within reach for investors, it makes it an ideal location to invest as it ticks all the ‘must have’ boxes but is also showing the returns on investment which are essential.”
Glenn Millar of Remax United Vision says Carina being named a ‘top 5 Brisbane suburb to watch’ doesn’t surprise him.
“The reason Carina is hotspot is that it is still cheap in comparison to surrounding suburbs like Carindale and Camp Hill, yet it is still close to all of the key services, like Westfield Carindale, buses, the Gateway,” Glenn says.
“It’s 15 minutes to the City, 15 minutes to the airport and 15 minutes to Manly and Moreton Bay.”
“Investors and first home buyers are now eagerly watching out for ‘for sale’ signs in Carina.”
Adam Scott from Coronis says Carina is an incredibly “hot” suburb with buyers at the moment.
“With the high levels of activity and large percentage increases most suburbs have had recently, Carina is seen by buyers as slightly more affordable, and ‘the next big thing’,” Adam says.
“Several suburbs closer to the city have recently had their big price spike, and it looks like Carina is next. Camp Hill and Coorparoo had theirs in 2014 and it looks like 2015 is the year for Carina. Most activity is from first home buyers and investors who are trying to get into the market, and Carina is still a very good location but just that little bit more affordable.”
“It has all the fundamental facilities required – like shops and public transport, and its only 7km from the city. A lot of the older timber ‘post-war’ homes in the area have great renovation potential. All up; making it a very desirable location.”