Looking at buying a new townhouse at Griffin Mews (not built yet).

And wondering what the rental market is like to rent out. Seems like an off the beaten track suburb of Brisbane that hasn't been popular in the past so wondering why it is growing in popularity.
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Hi Prueb1! The rental market is strong at the moment and at the moment I am close to 100% occupancy with my Ray White Property Management business. If you need any further information on this matter I am best on 0400389116 or [email protected] Thanks Jason Smith

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The recent growth is due to the majority of the suburb re-zoning from large rural blocks to high density residential. The only reason the suburb wasn’t so popular in the past is due to lack of availability of land to develop.

As a tenant in a townhouse across the road from where you’re considering, we have lived here very happily for over 4 years due to great school, great family oriented community and proximity to highway for city commute. Added bonus is new shopping centre (Including Woolworths) to be built on brays road within the next couple of years a couple of blocks up from you. Hope that answers your question. 😊

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Hi Prueb1. Important to do your research when you are buying. Griffin is a good area close to many services. However, buying new townhouses / units in the area comes with some risk.

There are a number of reasons why 3 bedroom townhouses in Kallangur, Murrumba Downs, Griffin & Dakabin have recently dropped in value:

1. Kallangur/Murrumba Downs/Griffin/Dakabin (postcode 4503) has the highest number of rental townhouses in the Moreton Bay Region (over 30% of all townhouses).

2. The concentration of this many townhouses in one area has an impact on values – due to supply vs demand

3. The region still has new townhouse projects coming out of the ground and this will continue for the next 2 – 4 years until all available land supply has been exhausted (we know of 8 such projects around Kallangur/Murrumba Downs/Griffin at the moment – these projects alone will add an extra 800+ townhouses to existing supply)

Given the above factors, when new owners come to rent their properties they often don't achieve the rents they are 'GUARANTEED' by property spruikers and marketing agents. Also, when vendors come to sell their townhouse they are competing against brand new properties, that are priced between $355k - $375k, and against older properties that may be priced as low as $285,000.

The only way to get a higher price in this type of market is to do something to your property to make it stand out from the crowd.

Tread carefully when you buy. This is when you make your money investing in property.

Please see attached link to a market research report we prepared for our clients earlier this year. It covers the Kallangur rental market but the data also applies to Griffin https://affinityproperty.net.au/kallangur-rental-market/

Please don't hesitate to call me on 0438 115 550 or visit our web site if you want to discuss in further detail or would like more information about the local area https://affinityproperty.net.au/

The opinions expressed here are those of the individual and not those of Homely.com.au.Report

Rentals in Griffin, QLD 4503