Brisbane is geographically bordered by the stunning Sunshine Coast to the North, Moreton Bay to the East, the Gold Coast to the South, and Hinterland and State Forests to the West. Each geographical area provides its residents with a different living and lifestyle to enjoy.
Brisbane’s transport system includes its riverways, roads, cycleways, and rail operate North, South, East and West. The Brisbane airport and Brisbane CBD located on the northern side of the Brisbane River. The Brisbane River from the Wivenhoe Dan and other riverways in the west, to the river mouth at Moreton Bay.
State primary schools are commonly located in local communities, whilst State Secondary School are located within the broader communities and all of which are catchment driven. Private schools both religious and independent are vast and nestled throughout Brisbane.
Business hubs are throughout Brisbane, which provides for a wider spread of communities and assists to reduce the congestion on primary transport channels which operate North, South, East and West of Brisbane’s CBD.
What should I consider when Property Investing in Brisbane?
So glad you asked and that you are considering property in beautiful Brisbane! When considering property in Brisbane we at Agility Property recommend taking the following into consideration during your due diligence;
1. Raw data.
The decision on whether to invest in property, as mentioned above, is based on raw numerical data and your investor instinct. By raw data we mean data that is gathered from the original source and before it is manipulated or commented on by the media, a colleague, friend or family member. Raw data that can assist in making informed decisions range from population data, income, geographic location, recreation and lifestyle, storm water, property size and pricing, and land size and pricing, vacancy rates, local development projects, neighboring and community information, zoning among others.
2. Investor Style.
Knowing your appetite for investment risk, growth prospects, rental yield requirement, renovation, redevelopment, or own and earn will assist us to understand the property performance you are seeking as well as the property style that may best suit.
Investor’s most commonly seeking a property for investment that is in a demand driven location, with a solid forecast for capital growth between a 5-10yr projection, a strong rental yield of 5percent or above, and desirably a property with tax depreciation opportunities.
The style of property investment you may seek also needs to compliment your investor style, and each investor is different.
Absolutely, location is key. The suburb, the street and house location within a suburb are important. Taking the time to understand a suburb and streets; what’s happening and not happening i.e. infrastructure projects, community feel and spirit, demographic, transportation, community services, school and daycare service quality and environmental factors (local water systems, flooding. The supply and demand of real estate in the area, its access to the CBD and transports to the CBD, Airport and local schools are also key factors to consider in location desirability.
All of the location information gathered will enable a more informed decision on location desirability; future growth and rental yield growth prospects. Property located near transport hubs, shopping and entertainment centres, good education and childcare options, lifestyle aspects, storm water flow, and low crime rate are most desirable by residents including tenants.
4. Flooding and Topography.
Brisbane is located in the sub tropics of South East Queensland and therefore its weather includes a wet Summer season and a dry Winter season. Brisbane’s landscape is incredibly varied from flat land, to wetlands, to river waterways, and to vast and steep hills. The topography of Brisbane and flow of water during the Summer wet season are essential criteria during due diligence. Not only does the information effect the potential enjoyment of the property but it may also have effect to financier approvals, potential development, and insurance premiums among others.
5. Property Style.
The property style we research for on your behalf will be driven by your investor style, your financial budget, and your property style interest among other aspects.
For each property we believe there are four main components and MANY subcomponents. The four main components include;
- Surrounding property area desirability,
- Street appeal,
- Property exterior including size, and
- Property interior including layout and size.
When viewing properties on your behalf our assessments include no less than 48 evaluation criteria before we recommend a property to our clients.
6. Investor Instincts.
We think it important to listen to your instincts. The more informed you become about a property, and the market the more your instincts learn to filter information and emotions quickly which could save you hours of research, frustration and thousand’s of dollars. Our role is to provide you with all the information available to make an informed decision.
7. The most important question to ask.
One last piece of advice, actually it’s a question we suggest you ask which we would like to share with you. Is a question to the Selling Agent, and it is;
Is there anything I should know about this property?”
Why this question and when should I ask it, you may ask? Licensed Real Estate Agents hold an ethical duty to research under law and industry practice are required to advise the market of information about a property that a reasonable person would expect to be informed of. This may include a stigma, defects, easements, zoning changes which may influence their decision, for example if a property has flooded or is in a Flood Zone, was the place of a criminal. For many people, including our clients, the answer to this question may automatically eliminate a property, and wouldn’t you want to know at the beginning of your research, rather than hours, days and weeks later of research. We suggest you ask this question at the first available opportunity with the Selling Agent and preferably face to face. Pause after asking the question and look the agent in the eye, so you can observe their body language as well as the information they are verbalising to you.
If you are looking to secure your next Investment Property, Contact Us at Agility Property to engage our services and secure your next property!