Runcorn, Calamvale and Drewvale top first home buyer targets: HTW
Brisbane has plenty to offer entry-level investors within a reasonable distance from the CBD, according to HTW’s Month in Review: March 2017.
The valuation firm says suburbs such as St Lucia or New Farm may be out of reach for first home buyers but addresses such as Runcorn, Calamvale, Drewvale, Doolandella, Salisbury, Coopers Plains, Heathwood and Forest Lake are much more obtainable.
However, the firm warns that while first time buyers are competing with investors in these locations, they still stand a great chance of finding their first home in these areas.
HTW says that older detached homes below $600,000 (which is the typical Brisbane median house price) are worth considering.
“Target something that’s had some wear and tear but still includes that key property component of location,” the report suggests.
“Nearby services and facilities are major factors in price growth.
“You can renovate the improvements, but you can’t relocate the real estate.”
A four bedroom house at 1 Adamson Way, Runcorn (above) has been listed for over $600,000.
Similarly a four bedroom house at 11 Linaria Circuit, Drewvale (below) has been listed for over $699,000.