Investment opportunities in Chermside
With interest rates low and property prices in Queensland rising fast, pressure has been placed on first home buyers who have turned to renting as a result. While this may not be good news for young buyers, the advantage is in the hands of the investor.Whether you're wealth building for retirement or simply looking to supplement your current household income, property investment can be a very lucrative venture.
Building wealth through an investment property is not only just about the way you manage your portfolio, but the places you purchase homes, too.
That's why it's important to look towards property hotspots where development and capital gains are high and vacancy rates are low.
Chermside, located just a few kilometres north of Brisbane's city centre, is one such suburb.
The state of Queensland has seen some strong price rises in recent months, and this has flowed into the suburban Brisbane area. As a result, both homes and units have become an attractive option for investors, which may be pushing first home buyers in the area into renting accommodation.
Figures from RP Data showed a large investor presence in Chermside, with over half of the population renting their accommodation. A smaller 17 per cent of homes were occupied by a purchaser and a further 17 per cent were owned outright.
At the same time, the RP Data information showed a large proportion of childless couples and lone households, suggesting that units and apartments could be an extremely popular choice for residents in Chermside.
The suburb of Chermside could not be placed in a better location. Close to the Brisbane airport, schools, hospitals and Brisbane CBD, Chermside offers a number of opportunities for investors to secure a valuable asset that can cater to almost any type of tenant.
The area is known for being home to one of the largest shopping malls in the state, which translates into a high level of business investment in the area.
Chermside is expected to see a rise in high-density residential buildings, such as apartments and units, after a new plan was released by the Brisbane council in August last year. What this means for investors is that housing stock will grow in areas that are in proximity to key amenities, such as the hospital, Chermside Shopping Centre and Gympie Road. This will lead to more units and apartments that are not only attractive to tenants, but may see strong capital growth, too.
The plan also outlines a number of other initiatives to ensure that Chermside can accommodate for strong population growth that is expected to occur in coming years.
With the potential for more houses in the area, coupled with population growth and strong investor activity, apartments or units in Chermside could make a fantastic addition to any investor's property portfolio.