Where and What to Buy In Brisbane - Salisbury 4107
Where to Buy
Salisbury is a suburb with three key routes into the CBD, Beaudesert/Ipswich Rd, easy access to the Pacific highway and its very own train station. Salisbury neighbours the Griffith University Nathan Campus, is 6km from Westfield Gardens City and is serviced by Aldi shopping, Sunnybank Plaza and QE 2 Hospital.
The creek lines in Salisbury are prone to flooding, so investors need to do their due diligence with regards to flood maps when purchasing in this area. The majority of the suburb, however, is flood free.
Suburbs immediately to the north of Salisbury have a higher median sale price. Gentrification of these suburbs, particularly Tarragindi, Moorooka, Mount Gravatt and Macgregor will eventually put pricing pressure on Salisbury.
Suburb Vital Statistics:
Vacancy rate: 1.96%
Rental yield: 3.8%
Owner Occupier Ratio: 68
Demand/Supply Ratio: 63
Price to Income Ratio: 5.8
Building Approvals: 1.8%
Houses: 93% / Units: 7%
Typical value: $538,480
Median rent: $390p/w
2016 Highest Sale: 212 Henson Rd, $925,000 17 Feb
2016 Lowest Sale: 8 McCarthy Rd, $482,000 05 Feb
What to Buy
The most in demand property type for Salisbury is a 3 bedroom house. So that is exactly what I would buy. Typical buyers tend to be first home buyers or young families. A 3 bed, 2 bath, 2 car option would be optimal however a 3 bed, 1 bath, 1 car option would also work if there was potential to add value to the property by including a second bathroom/carport. For example:
41 Bellevue Ave Salisbury - 3 Bed 1 Bath 1 Car. I currently value this typical post war house at $504,350 with a probable range of $495,000 to $514,000. I believe a fair rent estimate with the property currently as is would be $420p/w. That is a 4.3% yield.
The reason why I like this property is because you are buying below the median house price point for the suburb and achieving over the median rent. As Salisbury continues to provide a strong real estate market, the demand for this suburb will continue to improve and prices will only go up.
Want to learn more about the Brisbane property market? Book in a free consultation with Emily at a time of your choosing.