QLD Algester vs Springfield lakes

I am planning to buy a house in Algester and that house is 607 m2 and is pretty nice. However, the bathroom has asbestos and the garage has asbestos. It is a high set property therefore garage is downstairs.

However, I am still confused on whether it is a good decision to buy such kind of old property with asbestos in Algester vs. buying a modern property with less land size in areas like Springfield lakes.
One disadvantage is that there are no train lines in Algester whereas Springfield lakes have a train line. What is a better deal? Where I can see more capital gains?

Is Algester considered a good suburb like for family? Is this suburb mainly for Chinese people or I will find other investors too? If you have 500K to spent where do you think is the better prospect to buy a house in entire Brisbane and its surroundings so that the capital gain is maximized. Is Algester one of that property?

 

Algester -You could get the asbestos removed. My sister just got hers removed to renovate her bathroom and it cost less than she thought it would. There is express buses to the city and Garden City. Local state primary School is good. I only used train once when I lived there, drove to closest station. Not sure what would be better deal growth wise. I don't think I'd want to be write next to coal train line, like opposite it, apparently it will be used more in the future. I don't know Springfield Lakes at all.

 

Springfield Lakes is VERY VERY popular with FHBs. It is a newish estate and there are swarms of ppl moving down there. I havent seen the way it is recently due to no travel but last time I was there is was very very nice area.

Algester is an established suburb and been around a long time. Its got much older builds etc....its closer to the CBD and next door to Sunnybank/Calamvale so big asian influence if you like asian food its heaven.

If budget was the same I would be buying in Algester however be prepared to renovate and put some money into it especially at your price point. In Springfield Lakes you should be able to buy a much newer place.

Is this for a PPOR or investment?

 

Algester will be my pick as well, there isn't much left around 500k for a 600sqm block in the Brisbane council. Once the border opens, there will be alot more asian buyers coming in, look at the 2018-2019 growth in Sunnybank/Sunnybank Hills. The Algester Primary is a very good local school that is attractive for young families.

I believe there's planning around a new train station in Algester following the completion of cross river tunnel. Express bus services is also good and accessible.

 

Thanks, this property is very far from the coal line and is in the tingiringi street. Do you see concern over that street? Google Maps

Railway over sheep Gully looks very far way.

 

It's for my living but if things go bad then I should be able to sell it off at a good price.

 

Are you sure there is a train station coming up in Algester? Where is that information. I am planning to buy a house in Tingiringi street? Is that a good street in the sense that there is less noise from coal train and new train station?

 

One of my good friends lives in that street. Further up. Nice street, I'd go for it. Her neighbours were friendly also.

 

Yes the railway line is 116meters far from this place. Is that enough? In the future, if they change freight lines to passenger line then is it going to be noisy? Will I get vibrations? Sorry to ask for some stupid questions but I am pretty paranoid.

 

that's fine! I think it's a great street. I had read a bit about it on one of the facebook Algester, Parkinson sites. I think they had said track being upgraded and used more frequently. I don't know details sorry, but I don't think it'd be an issue. You get used to the sound and don't notice after a while. I wouldn't be worried. No vibrations, just sound. If you are on facebook maybe find out more there about it. Or do a search, in the FB group, there is more info.
Facebook Groups

 

Salisbury to Beaudesert Rail Corridor Study

I think new station is good for Algester/Parkinson, more accessible to the CBD making it attractive. Tingiringi is quite far from the rail line, I wouldn't worry about the noise.

I am looking at this from investment perspective, however since this is your PPOR, you should really consider what's important to you i.e. if you want to live in an older property or newer one in Springfield lakes, family, school, etc.

 

I'd pick Algester over Springfield Lakes but I'm also happy to renovate and take on projects. Someone like my sister would pick a newer house on a low maintenance block any day of the week instead of renovating or living in an "old" house.. everyone is different but I like the older more established areas with larger blocks. AS for capital growth Id think Algester as it is closer to CBD and people are likely to spend more on improving their homes pushing the median price up.

 

As a PPOR I wouldn't rule out Springfield, lots of infrastructure going in which provides/will provide a great lifestyle.

At the moment however there is far too much land left to develop to realise any real capital growth so not the area imho for investors wanting a significant capital growth.

If you plan on staying in the area for a while over time prices will almost certainly (imho) go up, long-term vision I will be surprised if Springfield does not become a city in it's own right.

Would I buy a rental at Springfield, probably not - would I live at Springfield - absolutely.

 

Algester for sure. For some geographical reason Springfield gets awful weather, hail etc