Sometimes, apartments in the suburbs provide better value than city apartments.
If in a good location and near transport, there is a greater pool of possible residents -- students, young city workers, retired couples, single mothers/fathers with one or two children, widows and the like. In other words, people who want convenience, but not the problems with looking after a house; people who want safety and facilities, but not a city apartment.
The areas of Brisbane that I think will have good capital growth over the next five years are:
- St Lucia -- near the city, Toowong and the University of Queensland. Some apartments have river and city views.
- Indooroopilly -- many facilities, on a main train line, near excellent schools and the University of Queensland. Some apartments have river and city views.
- Toowong -- close to the city, with facilities at Toowong Village, and a transport hub.
- Taringa (between Toowong and Indooroopilly) and on a train line
- Sherwood -- a nice village atmosphere, only 12 km from the city, and on a train line. Near good parks and schools.
People often say West End will be the next hot spot in Brisbane. My view is that the facilities are not as good as the above. I prefer the Southbank area to West End, as you have city and river views and face north. Most of West End faces West (e.g., see the view here.)
There are big plans for Indooroopilly and Toowong redevelopments. This will drive up prices of existing quality apartments.
But you have to be careful, as there are poor quality apartments or apartments in poor locations (i.e., on major roads) in these areas.
I recommend the following apartments and off-the-plan developments.
- Fresh Apartments in Toowong -- a resort style complex, with two pools (completion in early 2008)
- Ciana at Indooroopilly -- includes pool, restaurant and club (completion in late 2008)
- Parklands at Sherwood (completion in 2009) currently in pre-sales, includes pool
Typically, a two bedroom two bathroom apartment in these complexes is about $500,000, and will be about 85 sqm internal, and (in addition) a large balcony of about 30 sqm and airconditioned.
Example existing complexes