Peter is the National Coordinator of the Property and Share Investment courses at TafeSA, Victoria University, The Property School and Gold Coast TAFE. He also teaches in the Property degree program at the University of South Australia. He holds a teaching degree, Graduate Diploma in Property and Masters of Business (Property). He has been teaching in real estate and investment for approximately ten years and he also invests in property.
Redcliffe is approximately 30 km north of the Brisbane CBD, in a region known as the Redcliffe Peninsula...In the past it has been a place where people from Brisbane would visit to spend a day by the beach...
But how does it fare when it comes to property investment potential? In this suburb snapshot, Peter Koulizos tells us why people "do like to be beside the seaside"...
Overview
Median House Price: $320,000 (Oct '07 RP Data)
Median Unit Price: $325,000 (Oct '07 RP Data)
Redcliffe is approximately 30 km north of the Brisbane CBD. It is situated in a region known as the Redcliffe Peninsula, which is accessible to Brisbane via the Hornibrook Bridge. In the past it has been a place where people from Brisbane would drive up to so as to spend a day by the beach. Walking along the esplanade, known as Redcliffe Pde., you can sense that Redcliffe has kept some of its sleepy sea side character as there are still many places you can buy fish and chips, ice creams and soft drinks.
If you have never been to Redcliffe, it has many similarities to Christies Beach in Adelaide and Frankston in Victoria; locations that were once considered a long way from the city but due to improving road infrastructure and the sea change are now considered a part of the metropolitan area.
Redcliffe will continue to grow as the Queensland government has planned new infrastructure in the area for many years to come.
The streets of Redcliffe are dominated by detached dwellings on approximately 800 square metres of land. Many of the houses are high set (built up off the ground) but there are a number of low set homes. Many of the units and townhouses that are currently selling are new and very close to the water. This is one of the reasons that the median price of units is higher than that of houses in this suburb.
Most of the retail stores, eateries and cafes are situated on Redcliffe Pde. Redcliffe has one public primary and one public high school. There is a TAFE campus adjacent the high school. The private schools are located in the adjacent suburb of Scarborough.
Demographics
People – There are approximately 9,000 people living in Redcliffe. Compared to rest of the nation, it is a suburb that houses an older population, as evidenced by the differences in the proportion of people aged 55 to 64 (13.5% to 11%) and those aged 65 years and over (19.8% to 13.3%). Most of the migrants in Redcliffe originated from England and New Zealand. The most common family unit in Redcliffe is couple families without children. This compares to the most common family unit nation wide being couple families with children. Couple families with children are proportionally lower in Redcliffe, 32% of all households, whereas the Australian average is 45%. The most common religion is Anglican, which is a reflection of the high proportion of English migrants in the area. The median household income is only $680 per week whereas the nation wide median is $1,027[1].
Housing – In Redcliffe, 29.5% of dwellings are fully owned, 20.3% are being purchased and 43.2% are rented. This compares to the Australian average of 33% fully owned, 32% being purchased and 27% rented. As can be seen from these Australian Bureau of Statistics figures, there are currently a high number of renters in Redcliffe.
Why you should buy here
One of the main drivers of capital growth is location. As Redcliffe is on the beach it is very attractive to many people. One of the leading indicators of capital growth is the current and or future spending of funds by the private and public sectors. This is certainly occurring in Redcliffe. The private sector is spending money on the construction of apartments and will soon start on the building of a new shopping precinct. The public sector has earmarked the expenditure of money in Redcliffe as it has been nominated as a major activity centre in the state government's blueprint of development and infrastructure over the next 20 years. These blueprints are known as the South East Queensland Regional and Infrastructure Plans. Some of the other reasons I have selected Redcliffe as a top suburb for investment are as follows:
- It is one of Brisbane's cheapest sea side suburbs, with a median price well below that of Brisbane.
- It is relatively easy to "value add" through renovation as many of the properties are in need of some "tender loving care".
- The Hornibrook Bridge is currently one lane wide in each direction. There will be a duplication of this bridge, thus making the whole Redcliffe Peninsula area more accessible and cut down commuting times to the city.
Areas to focus on
Beach side of Oxley Rd should see the highest capital growth as it is closest to the beach.
Areas to avoid
Oxley Rd is a very busy thoroughfare which carries a lot of traffic, including heavy trucks.
Disclaimer: Please be advised that this segment is intended to provide a brief summary on various Australian suburbs. It should not be taken as a recommendation to invest in any specific area and we advise investors reading this feature to always seek professional advice before committing to a property investment in any given area.
How and Where to Invest in 2008
Seminars around
Featuring Michael Yardney and Ed Chan
The fall out from the stock market crash is going to affect all of us in many different ways. It will also create the type of property opportunities we haven’t seen for over a decade.
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There will be some great opportunities out there, but the rules are different now and not every location will experience strong property price growth in the short term.
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