REAL estate agents say there’s plenty of optimism in the current property market, but they’re issuing a word of caution not to get trapped into buying too high, particularly in new housing estates.
Park Ridge is going gangbusters, and Flagstone is still going strong.
But bargain buys can be found in suburbs such as Regents Park, Windaroo, Rochedale South, and anything within reach of the M1 highway, according to agents in the City of Logan area.
LJ Hooker Shailer Park principal Neil Cowan said Shailer Park and Cornubia were good value.
But he said all suburbs within reach of the highway to the Gold Coast and the city were likely to rise in value in the short to medium term.
Mr Cowan singled out Rochedale South.
“It’s crazy that you can buy land in Rochedale for $550,000, yet in the very next suburb you can get an established home for the same price,” he said.
“That has to change. But anywhere around Springwood, Daisy Hill, Shailer Park and Loganholme all have good connectivity with the city and coast, and can be considered good value.
“So is Cornubia where we’re already seeing sales of over $1 million. It’s definitely moving forward.
“Mt Warren Park is another in the corridor. People want to be close to the highway, but not too close.”
Mr Cowan said it was important for people to look at the changing demographics of an area. Somewhere like Slacks Creek has properties for around $300,000, but there was some flooding and there was a high investor ratio which meant fewer owner-occupiers.
Browns Plains Real Estate manager Neil Giles said it was possible to get a four-bedroom, two-bathroom, two-garage home in Regents Park for around $400,000-$420,000 which was about $30,000 less than they cost 10 years ago.
That’s a good price for a home 7-10 years old, he said.
“This is what’s happening in the new areas,” he said.
“People are offered all sorts of incentives to buy their home – first owners’ grants, government assistance, etc. It means people are often paying too much for their new home and end up losing in the long run.
“I think the government should incentivise people who buy established homes.”
PropertyHub’s Linda Mackay agreed that people were looking for privacy and space.
“As soon as we get something over 1000 square metres overlooking bushland or a golf course, it’s gone before you can blink,” she said.
Like all property agents, Ms Mackay said she was struggling to get enough properties to put on her books.
There’s an undersupply, she said. But there’s no downturn – at least not in the property sector.
Ms Mackay singled out Windaroo as a suburb which might increase in value.
