A humble suburb north of Brisbane is becoming an apple of investors’ eyes as new data reveals Queensland’s top affordable locations to maximise returns in 2024.
Investor Ron Pratap, who has lived in the area for nine years, said Griffin was the perfect place to invest due to its amenities and growing surrounding suburbs.
“I have no complaints about the area. It is a great and safe place to live,” Mr Pratap said.
“It’s close to good schools, boat sides, motorway to the Sunshine Coast and the Gold Coast and prices are well ranged, Mr Pratap said.
“The rental return here is pretty good, and occupancy is close to 100 per cent.”
Property agent Liam Seeto from Harcourts Connections said the market in the Griffin/Murrumba Downs area had been solid.
“In the first week of one of my townhomes, I had 32 inspections and 15 offers. That is a good indication of the strength of the market here,” Mr Seeto said.
“Where Griffin, in particular, is situated and all of the amenities surrounding it such as the north and south ramp of the M1, Westfield North Lakes, brand new sports facilities and Murrumba Downs shopping centre. Everything that buyers and investors need is here.
“Griffin being situated between high-performing suburbs with those suburbs growing will organically transfer here.
Mr Seeto said despite the low stock in his patch, he was confident in the market’s performance.
“The market is going fantastic from a seller and buyer perspective. It is a good time to sell because we are low on stock. Buyers may not have as many options, but we can qualify those keen on buying,” he said.
“The serious buyers out there now, all ready to go, will get something lined up.
According to PropTrack, the median house price in Griffin from November 2022 to October 2022 is $690,000.
Article source: www.realestate.com.au