Is the Rocklea/Acacia Ridge area a good area to invest in? Do you notice good growth in that area and why?
Ryan: So I’ve got some questions live, so [crosstalk 00:00:03].
We haven’t done any marketing for this, so it’s pretty exciting to see you guys watching. Thanks for tuning in.
So Adrian asked, are you noticing a lot of movement in the Rocklea Acacia Ridge area; i.e., renos, gentrification, etc.?
Ben: Yeah, I love Acacia Ridge. It’s probably like the suburb I first started to buy when we stopped buying in Sidney and started to focus on Queensland. Acacia Ridge was in the residential part that we talked about before.
It’s been consistently ticking away at about 5% per annum, when Brisbane’s been doing 2% per annum for the last three and a half years. About two years ago, the government did a massive sweep from a policy perspective, planning policy, and about a third of the suburb was rezoned to a low to medium residential and high-density residential.
Two years down, like when I first drove through the suburb, I honestly thought I could have been in regional Australia like the Outback, it was so, so run down and so [inaudible 00:01:07], but the government’s been selling out one property per month for three years, so there’s all these developers coming in putting in new projects.
I love Acacia Ridge. It’s got like five train stations within a couple K walking distance. It sits next to Sunnybank and Sunnybank Hills that are on average worth $300,000 more.
It’s got the university there. It’s got the Westfield there. Like it’s one of those suburbs that’s just sitting there that’s just super cheap still. There’s still some housing issues. There’s still a lot of first generation immigrants there.
There’s still a lot of people on the housing commission there. There’s still a lot of blue collar workers, but if it’s a 15 to 20 year buy and hold, I just can’t see how you’re going to lose there. It’s still sub-400K and it’s only 14 kilometers from the city as well, for a house. So, an interesting area.
Hey, guys, I hope you enjoyed the answer to this question, which came from our live Q&A episode with Ben on YouTube.
We will be doing more of these in the future. If you want to check out Ben, and he is offering free strategy sessions to onproperty listeners. To find out more about that, go to onproperty.com.au/session and you can see all the details over there.
That’s it for today, and until next time, stay positive.