The house that my sister D and I are visiting today is located in the Birkdale area.
First, let's take a look at this area. It's located on Brisbane's eastern seaboard and falls under the jurisdiction of Redland Council. This area has a train station, and commuting to the city center takes approximately 45 minutes. From here, two piers inland, you'll enter the Brisbane Council area. This area has a relatively small Chinese population, being primarily white, and therefore less well-known among the Chinese community.
Three price points for the seaside community of Birkdale
In this area, property prices fall into three tiers: at the top end are the discreet luxury homes owned by locals, these detached houses come with their own docks, called Aquatic Paradise; followed by properties close to the beach and lake; and finally, properties on the other side of the train tracks.
Today we're looking at a three-bedroom brick house near the beach. Located on a quiet seaside street, it's just a 600-meter walk to the beach and a 500-meter walk to the lake. There's also a large park with children's play equipment and a dog park nearby. These large homes near the beach don't come cheap.
Long-time followers of my channel know that, as an urban planner, I have a keen understanding of land value. This particular property for sale in the area is located on the other side of the train tracks, facing the main street in a less-than-ideal location. The 405-square-meter plot is listed for $500,000. Therefore, this property is definitely worth sharing, especially for small families or young people looking to buy a home! For just $700,000, you can own a private plot of land and a house near the sea.
So why do I think this house is worth recommending?
Good location below median price
The first thing that caught my eye was definitely its location, followed by its value. First, its relatively low price tag of just $700,000. Second, it sits on its own private plot of land with no slope or easement, measuring 405 square meters. Eight or ten years ago, this would have been considered very small, but now it's considered normal. By comparison, the median price for a three-bedroom house in the area is $782,000, while this house is only $700,000. Furthermore, it's not on the other side of the train tracks, but rather close to the water, making the price relatively reasonable.
The first thing you see when you enter the house is the living room, which is designed as a three-bedroom apartment with no master suite. The kitchen, dining room, and bathroom all show signs of age.
Can be rented or redeveloped, potentially leading to higher returns
Although some may say that this house looks old, it is definitely more than adequate for renting out, as the main requirement for renting out is functionality. And, considering the current rental crisis facing the whole of Australia, renting out will not be a problem.
When the cost of purchasing a property decreases, rental returns also increase, resulting in higher returns for investors. Furthermore, from a long-term asset appreciation perspective, this is definitely better than a townhouse/unit. Furthermore, since this house is brick, if you plan to live there yourself, it's worth investing in renovations to make it comfortable for you. Alternatively, in ten or eight years, when you have sufficient funds, a demolition and rebuild is also a good option, just like the beautiful house across the street.
Chinese