North Lakes Investment Property
North Lakes Investment Property an addition to Alistair Kelsall’s Brisbane Buyers Agent Portfolio, this property was purchased on behalf of a client seeking a good 4 bedroom 2 bathroom brick and tile investment property in the Brisbane region. I had commenced searching for a suitable property in the Southern Brisbane suburbs of Doolandella, Durack and Forest Lake but could not find a suitable quality property.
Doolandella Durack property prices have now increased to the point where the returns just aren’t there anymore and the properties in Forest Lake just lack the quality I am looking for and even these properties now are getting up to the $700K price range with a return below 4%.
North Lakes Investment Property Location
Switching to the Northside of Brisbane I started to examine suburbs like Lawnton, Petrie, Kallangur and Strathpine. Here I could secure a good property for under $700K but it would be an older property which would require a higher level of maintenance. Next was to conduct a study of the North Lakes region of Brisbane. Whilst I always go by the golden rule of property investing, keep as close to the Brisbane CBD as possible, North Lakes has become something like a satellite city with just about every facility you could ever want and speaking to my finance customers who live in there area, their common response was “We don’t go to the City, everything we need is here”.
North Lakes Review
North Lakes is a great place to live. The infrastructure is amazing. You will have everything you need close and easily accessible – malls, shopping, IKEA, Bunnings, many eat outs, movie theatre, services, plenty of great parks, bike tracks with beautiful views around the lakes and the green areas. The infrastructure is soo good that it is a pleasure walking or riding around. Reminds about the stylish European cities. Parks are amazing! The people who live here are professionals and families who enjoy the place. It is safe, close to the airport and to the highway. Pleasant and short train-ride to the CBD. Only 20 minutes to the beach at Redcliff or 40 minutes to the great choice of beaches on the amazing Sunshine Coast, avoiding the city traffic. I love the area!
North Lakes Investment Property Statistics
North Lakes has some pretty impressive stats when it comes to property investing.
- Vacancy Rate 0.85%
- Median House Price for a 4 bedroom home is $715,000
- Past 12 Months Capital Growth 32%
North Lakes Investment Property Search
A search for suitable investment properties result in this property coming up on my radar. It is a 4 bedroom home with an internal floor space of 229m2 on a 408 m2 block. Property appeal is a very big part of the property selection process, I always seek a property that will appeal to a wide range of potential tenants and buyers when it comes time to sell.
This property is surrounded by parks and some very nice houses on a street where the only sound you could hear were the birds singing. Then the property itself with its covered large outdoor entertaining area, seperate living areas and good sized bedrooms will ensure it will always be lived in.
North Lakes Investment Property Negotiations
Every valuation I applied to this property placed its value between $700,000 to $750,000. But right now the market is quiet as most sellers and buyers wait to see what is happening with interest rates which makes it an ideal time to buy. The sellers of this property wanted over $700,000 yet I secured the property for $680,000. A good savings to my client. I was able to achieve this by learning the motivations behind the sellers and a few other things that I won’t go into, part of my negation secrets. At the end of the day I have secured the property for at least $20,000 under the asking price and have provided good service to my clients.
