Hidden Brisbane property gem revealed

Founding and managing director of ASPIRE Richard Crabb believes it follows all the fundamentals, which should see prices rise.

“Increasing rents, falling vacancies, rising population and affordable property options are the gold standard when it comes to selecting promising investment locations, and Bridgeman Downs ticks all those boxes,” Mr Crabb explained.

According to SQM Research, Bridgeman Downs rental vacancy rate has progressively dropped from its peak figure of 4.5 per cent in November 2016 to 3.2 per cent in November 2019. 

In addition, the research showed that asking rents are up by 4.0 per cent for units.

“A combination of rising rents and tightening vacancies is a key indicator of investment income growth potential,” Mr Crabb said.

Mr Crabb said the population of Bridgeman Downs had grown around 13.4 per cent over the past five years and is set to continue.

“The suburb’s family lifestyle, combined with excellent access to services, facilities, schooling and transport routes are driving demand,” he said.

“In addition, much of the suburb’s developable land has been exhausted, so supply is tightening,” Mr Crabb continued.

Mr Crabb said price rises had already begun, with Domain data revealing Bridgeman Downs was among Brisbane’s top 10 suburbs for median house price growth reflecting 7.2 per cent to December 2019.

Mr Crabb said the numbers show Bridgeman Downs is on the up; however, the fundamental of investment success continued to be asset selection.

“The key to profiting is avoiding cookie-cutter projects with unremarkable accommodation that is geared specifically at short-term tenants,” he said.

“Boutique complexes with points of difference are better for both rental and value growth potential.

“Look for projects with plenty of room – both in terms of townhouse floor areas and common space in the complex,” Mr Crabb continued.

Mr Crabb said investors should seek high-spec properties that would appeal equally to both home buyers and tenants.

“The other tip is to buy below the suburb’s median price, which gives the property plenty of upside potential over the long term,” Mr Crabb concluded.